Board appointments at Recordati, following death of chairman/CEO

Following the death of Giovanni Recordati, who was chairman and chief executive of the largely family-owned Italian drugmaker Recordati (RECI: MI), the company’s board of directors has decided to appoint Alberto Recordati, a brother of Giovanni, as chairman and Andrea Recordati as vice chairman and chief executive.

In particular, Andrea Recordati, chief operating officer since 2013 in charge of all the commercial and production activities of the group, has been granted all the powers for the ordinary and extraordinary management of the company, including the direction and coordination activities regarding all companies belonging to the group, with the exception of some transactions the value of which exceeds certain thresholds, which are reserved for the board.

"My priority will be to proceed along the lines of the development strategy outlined by Giovanni Recordati with the objective of continuing the growth of the group," Andrea Recordati said in a statement.